The confidence in the realization of the purchase resides in the type of payment that will be offered to the client, so when setting up an eCommerce Solution Dubai we must know which payment gateway to integrate.
As a trade, both online and physically, if you want to accept card payments you need to have a terminal (POS). As it is evident, the terminal of an Ecommerce Website Development Dubai is virtual but the purpose is exactly the same as that of a physical POS.
All Ecommerce Website Development Dubai that chooses to use a virtual POS as a means of payment within its eCommerce has several options.
Go to a BANK ENTITY, where the trade will be granted whenever the trade meets certain risk criteria.
A PROVIDER OF PAYMENT GATEWAY SERVICES (PSP), companies specialized in online payment services.
To be able to choose between the different options we must take into consideration several factors, such as: commissions, accepted currencies, integration in our Ecommerce Website Development Dubai, ease of management, business expansion, This can be a real problem head if we choose poorly our payment gateway integration provider .
How do I proceed for payment gateway integration in my Ecommerce Website?
Once the application has been analyzed and the merchant account has been granted, the most common procedure is the sending of security keys and instructions for its installation in the eCommerce Website. The merchant may use the instructions provided by the Payment Gateway Integration Provider or Bank or go to the eCommerce Solutions Provider. In the installation process, the eCommerce Website Development Dubai must include a payment button on its website and link it to the gateway. In this way, when the customer confirms the purchase, it will connect to the server of Payment Gateway Provider.
How will that transaction be made?
When the customer places the order and chooses the card payment option, the basic scheme that the transaction will follow will be as follows:
The trade connects with the TPV of the Acquiring Bank Entity (the bank that provides the Merchant Account Details) indicating the name of the trade, amount of the purchase, date, currency.
The buyer (holder of the card) enters the data of the card on the screen.
The Payment Gateway Provider connects with the issuing entity (the bank that has issued the card with which it is being paid) requesting authorization.
The issuing bank requests authorization One Time Password (OTP) from the cardholder (buyer). It is probable that the issuing entity does not have this authorization process, if this is the case, this authentication will not be carried out.
Management and Consultation of Sales
The trade has an external portal where you can consult the details of the sales made and returns. Both the seller and the buyer will confirm the operation immediately. The merchant will receive the payments of the purchases in his bank account on a regular basis.
Both the bank and the Payment Gateway Provider will charge a commission per transaction (called the Discount Rate). The% of the commission will depend on the type of payment, the country and the product / service.